Income Tax Assessment Act 1936

SCHEDULE 2F - TRUST LOSSES AND OTHER DEDUCTIONS  

Division 266 - Income tax consequences for fixed trusts of abnormal trading or change in ownership  

Subdivision 266-E - Effect of abnormal trading on unlisted very widely held trust or wholesale widely held trust  

SECTION 266-165   THERE MUST BE NO ABNORMAL TRADING (SUBJECT TO 50% STAKE EXCEPTION)  

266-165(1)    
There must be no abnormal trading in the units of the trust during the test period.

To find out the meaning of abnormal trading : see Subdivision 269-B .

266-165(2)    
If there is abnormal trading on one or more occasions, then for each abnormal trading the trust must pass the 50% stake test in respect of the following times:

(a) the beginning of the test period;

(b) immediately after the abnormal trading.

To find out whether the trust passes the 50% stake test: see Subdivision 269-C .